Student Loan Forgiveness Settlement

January 07, 2019CrainMedia

Arkansas Attorney General Leslie Rutledge announced the for-profit education company, Career Education Corp. (CEC) has agreed to change its recruiting and enrollment practices and forgo collecting more than $493.7 million in debts owed by 179,529 students nationally. In the settlement with Arkansas and 48 other attorneys general, affected Arkansas students will receive $1.8 million in debt relief through student loan forgiveness, and the State of Arkansas will receive a payment of $75,000.

“CEC took advantage of Arkansans who were expanding their opportunities through education and weighed them down with a huge financial burden,” said Attorney General Rutledge. “These Arkansans will receive monetary relief from overbearing debt which will allow them to pursue their dreams.” MORE